Gifts of Real Estate
Gifts of real estate may include a house, apartment building, farm, vacation home, commercial buildings or income-producing and non-income-producing land. You can make an outright gift of real property now or through your estate that provides income to you or your children.
A gift of real estate that you have owned for more than a year entitles you to a tax deduction for the full fair market value of the property while possibly allowing you to avoid paying capital gains tax.
Gifts of real estate typically require certain procedural steps, including a site visit to the property, a qualified appraisal, a preliminary title report and an environmental assessment.
A gift of real estate to the Foundation is an excellent way to unlock the full appraised value of a property, allow for significant tax and economic advantages, and donate to worthy causes. The Foundation can help you structure a charitable gift of a vacation home, an investment property, land, or commercial or residential real estate.
By donating real estate, you bypass capital gains and may deduct the fair market value of your gift. The proceeds can be distributed to a donor advised fund, family foundation or endowment fund. Property may also be used to fund a charitable remainder trust, which produces lifetime income for the donor.
To explore gifts of real estate, please contact Jeremy Pearl, CFO, at 858-279-2740.
Bonds, Mutual Funds, Private or Restricted Stock
To transfer bonds, mutual funds, private or restricted stock, please contact Jeremy Pearl, CFO, for instructions.